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Post by frankp2p on Jun 8, 2020 18:04:35 GMT
What do you mean by that? We are offering this software service related to the lending opportunity and charge fees for it. Let me understand more why you think that this is a scam. Not sure if your reply is to my question but it followed on so i assumed? - i did not say it was a scam but asked why anybody would offer a no risk high return product to others rather then keep it to themselves and just make money from a fee? Ah, that's a fair question. Sure, if I would be a multi-millionaire then I would just invest for myself and wouldn't need to write software tools and earn fees from others using it  Also, the opportunity is quite scalable so there is no harm in others using this.
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Post by frankp2p on Jun 8, 2020 18:05:46 GMT
Hi everyone! We've launched an alternative P2P platform and I would love to get your feedback on it: www.lendary.net. The difference compared to classical P2P products is that you solely finance traders whose capital is fully protected by an automated liquidation mechanism. This way you eliminate the usual credit default risks. Feel free to check it out and leave your comments! Happy to dive in deeper if anyone is interested. Thanks, Frank Well, I would say welcome to the forum, but it's odd that we do not seem to have heard from you, perhaps i can draw your attention to forum rules 5, 6 and 7 which you would have received a copy of when you joined, or here
to refresh your memory. We often spot the less transparent platform reps on their way in and flag them anyway, but having a gmail account yourself meant we didn't detect you. Sprry I didn't want to break any forum rules and just wanted to get feedback on our tool. If you think what I am posting is inappropriate, feel free to delete it, don't want to bother anyone.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 8, 2020 19:51:22 GMT
That is the most irritating site ever the flickering columns of data are terrible. Not to mention as far as I can see the YTD interest is about 5% with 20% of that going in fees. I could be wrong because I couldn't really focus because of the extremely annoying data feed, if that is what it was.
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Post by frankp2p on Jun 8, 2020 22:28:22 GMT
That is the most irritating site ever the flickering columns of data are terrible. Not to mention as far as I can see the YTD interest is about 5% with 20% of that going in fees. I could be wrong because I couldn't really focus because of the extremely annoying data feed, if that is what it was. I cannot avoid the feeling that this is just meant to be destructive... thanks for your visual feedback, we'll take it into account. And what do you mean when adressing the 5% YTD return?
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 9, 2020 7:46:15 GMT
That is the most irritating site ever the flickering columns of data are terrible. Not to mention as far as I can see the YTD interest is about 5% with 20% of that going in fees. I could be wrong because I couldn't really focus because of the extremely annoying data feed, if that is what it was. I cannot avoid the feeling that this is just meant to be destructive... thanks for your visual feedback, we'll take it into account. And what do you mean when adressing the 5% YTD return? No I was actually trying to check out the site. I thought it said 5% interest YTD, and I thought your post above said 10% to 30%, which would be much more interesting. Is the 5% before or after fees? Maybe I'm misunderstanding something, but as said only so long I could look at that screen.
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cb25
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Post by cb25 on Jun 9, 2020 7:51:00 GMT
I will not invest anything in this venture because I do not believe for a minute that it is possible to trade with the risk of losses being 'almost zero' (and certainly not when no details are given on how this can be achieved).
There are also a number of things that work as 'red flags' to me -foreign firm
-complex investment -no real explanation of how it works -claims that I find unrealistic (e.g. risk being 'almost zero') -no mention of a regulator
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jaswells
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Post by jaswells on Jun 9, 2020 9:37:23 GMT
As they say on Dragon's Den:
" I just don't understand your market, so i'm out"
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Post by frankp2p on Jun 9, 2020 10:08:13 GMT
I cannot avoid the feeling that this is just meant to be destructive... thanks for your visual feedback, we'll take it into account. And what do you mean when adressing the 5% YTD return? No I was actually trying to check out the site. I thought it said 5% interest YTD, and I thought your post above said 10% to 30%, which would be much more interesting. Is the 5% before or after fees? Maybe I'm misunderstanding something, but as said only so long I could look at that screen. Hi there, no worries. But the 5% are Year-to-date and since it is June, this should amount to >10% annualized, right?
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Post by frankp2p on Jun 9, 2020 10:16:08 GMT
I will not invest anything in this venture because I do not believe for a minute that it is possible to trade with the risk of losses being 'almost zero' (and certainly not when no details are given on how this can be achieved).
There are also a number of things that work as 'red flags' to me -foreign firm
-complex investment -no real explanation of how it works -claims that I find unrealistic (e.g. risk being 'almost zero') -no mention of a regulator
Hi cb25, thanks for your feedback. I hope I can clarify this by going through your different points: -foreign firm -> Indeed, we are based in Germany - but I hope that this in itself is not a 'red flag'? -complex investment -> You're right, the structure of this type of lending is rather a niche - which is one of the reasons why you can still earn interest rates here I guess -no real explanation of how it works -> We try to explain how it works under www.lendary.net/how-it-works but please feel free to let me know what I can add to explain it better -claims that I find unrealistic (e.g. risk being 'almost zero') -> You're right, this sounds a bit aggressive (and maybe that was a mistake in the framing of things). What we wanted to point out, though, is the fact that the classical default risks that are associated with P2P lending are dramatically reduced since a) your capital can never leave the trading platform and can only be used by traders who buy crypto assets with your capital and b) there is a 24/7 control on the used capital since all of the positions that the traders open are liquid and can be force liquidated in case those positions run against the trader. Does that make sense? Beyond that, you still have a general counterparty risk with respect to the crypto exchange that you trust your money with. But this is something that you have in being on a trading platform anyways. -no mention of a regulator -> Indeed, since we are not operating like an investment management company in this case. We are solely providing a software solution that automates and optimizes your lending on the crypto exchange, i.e. we have no access to your funds at any point in time.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 9, 2020 10:17:58 GMT
I will not invest anything in this venture because I do not believe for a minute that it is possible to trade with the risk of losses being 'almost zero' (and certainly not when no details are given on how this can be achieved).
There are also a number of things that work as 'red flags' to me -foreign firm
-complex investment -no real explanation of how it works -claims that I find unrealistic (e.g. risk being 'almost zero') -no mention of a regulator
I agree with most of that, although regulators don't seem to have helped too much with P2P here! Some of the claims and the jargon is pretty off putting, if you can read through all of that it sounds like an interesting idea, quite clever if it works, but I don't really want to get involved in currency exchange to USD and I'm not all that keen on getting involved in a bitcoin exchange, if it could all be done in £s I might dip a toe just out of interest, if the rates looked good enough.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 9, 2020 10:21:06 GMT
No I was actually trying to check out the site. I thought it said 5% interest YTD, and I thought your post above said 10% to 30%, which would be much more interesting. Is the 5% before or after fees? Maybe I'm misunderstanding something, but as said only so long I could look at that screen. Hi there, no worries. But the 5% are Year-to-date and since it is June, this should amount to >10% annualized, right? OK, before or after fees?
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Post by frankp2p on Jun 9, 2020 10:22:37 GMT
As they say on Dragon's Den: " I just don't understand your market, so i'm out" Then we did a bad job in explaining it properly. If you're open to dive into it, I'm happy to try again!
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Post by frankp2p on Jun 9, 2020 10:23:47 GMT
I will not invest anything in this venture because I do not believe for a minute that it is possible to trade with the risk of losses being 'almost zero' (and certainly not when no details are given on how this can be achieved).
There are also a number of things that work as 'red flags' to me -foreign firm
-complex investment -no real explanation of how it works -claims that I find unrealistic (e.g. risk being 'almost zero') -no mention of a regulator
I agree with most of that, although regulators don't seem to have helped too much with P2P here! Some of the claims and the jargon is pretty off putting, if you can read through all of that it sounds like an interesting idea, quite clever if it works, but I don't really want to get involved in currency exchange to USD and I'm not all that keen on getting involved in a bitcoin exchange, if it could all be done in £s I might dip a toe just out of interest, if the rates looked good enough. Yes, the rates are much better for USD at the moment, so we focus on that. Let me know what we can about the jargon, that would be really helpful!
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Post by frankp2p on Jun 9, 2020 10:25:04 GMT
Hi there, no worries. But the 5% are Year-to-date and since it is June, this should amount to >10% annualized, right? OK, before or after fees? The rates that we show are before fees (which are 20% if you dont apply any discounts from affiliate activities etc.).
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jaswells
Member of DD Central
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Post by jaswells on Jun 9, 2020 11:12:55 GMT
I agree with most of that, although regulators don't seem to have helped too much with P2P here! Some of the claims and the jargon is pretty off putting, if you can read through all of that it sounds like an interesting idea, quite clever if it works, but I don't really want to get involved in currency exchange to USD and I'm not all that keen on getting involved in a bitcoin exchange, if it could all be done in £s I might dip a toe just out of interest, if the rates looked good enough. Yes, the rates are much better for USD at the moment, so we focus on that. Let me know what we can about the jargon, that would be really helpful! Ok, I will try and keep it really simple. Traders on the crypto exchange use my capital on margin to leverage their bets. When some of these go wrong, who pays?
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Also, the opportunity is quite scalable so there is no harm in others using this.